Hong Leong Bank Berhad ("HLB" or "the Bank") today officially launched its online auto loan application platform, called "Loan2Go". This makes HLB the first bank in Malaysia to roll out an off-site straight-through-processing mobile auto loan application platform on tablets for its sales force. The initiative offers both dealers and customers a transformed loan application experience by leveraging on technology.
The platform has been available nationwide to HLB auto loan sales force progressively since March 2016. Customers can now apply for auto loans on the spot through its sales force and save a trip to the bank.
"As a bank, HLB is transitioning towards being digital at the core; what that means is for us to constantly assess the way we think and work, especially in the products and services we offer, and to always consider how we can improve the speed and quality of delivery to cater to the evolving needs of our customers. Our move to an online and mobile loan application platform is part of the Bank’s efforts to enhance customer journeys by rethinking and digitising processes.
With this, the impact is three-fold; firstly, we are able to refocus and maximise the time our auto loan sales force spends on sales-generation, which contributes to the overall productivity of the team. Secondly, with the approval-in-principle in hand, customers have the confidence to complete their auto loan application with HLB. Thirdly, our dealers will be able to close their sales in half the usual time required as the applications can be submitted anytime Mondays to Sundays," said Domenic Fuda, Group Managing Director and Chief Executive Officer of HLB.
He added, "Loan2Go" is a result of both customer and staff feedback as well as our drive to change the way we work. For us, being digital is not just about being mobile or having the latest technology on hand but about finding new ways to interact and engage with our stakeholders. In short, it is also about simplifying complex and lengthy processes and introducing greater efficiency and convenience all round."
Loan2Go is another example of HLB’s multipronged digital innovation strategy, which follows closely on the back of our recent announcement of the Bank’s collaboration with the Malaysian Business Angels Network to support and develop local technology-focused start-ups and businesses through a mentorship programme.
In conjunction with the launch, HLB is offering the first 200 customers, rebates worth up to RM100 on one year’s road tax for loan applications submitted from 3rd November 2016 onwards.